According to the Federal Statistical Office, in October 2007 the import price index was 2.3 percent higher than in October of the previous year. The increase is, however, mainly a consequence of the so-called basic effect. Compared to September 2007 the import price index increased by 0.7% in October. The export price index, on the other hand, was up by 1.3% in October as compared to the same month last year and 0.1% higher than in September this year.
Particularly high was the inflation in prices for pig iron, steel and iron alloys in October 2007 (+5.4%). Non-ferrous metal ores were 1.6% more expensive than last year. The prices for non-ferrous metals and the semi-finished products thereof, on the other hand, were 1.7% less expensive than last year. In particular the prices for raw copper and raw aluminum fell by -5.4% and -6.1% respectively. Nickel in its crude form, which is mainly used for the production of stainless steel, also became -11.4% cheaper. Prices for lead, zinc and tin in crude form increased by 7.1%
In the food industry prices increased mainly for the import of cereals (+52.6%), milk and dairy products (+24.8%), crude coffee (+8.4%) and crude cocoa (+4.4%). Poultry became 21.3% more expensive while the price of imported pork fell by 8.7% as compared to last year.
Cheaper than one year ago were electronic data processing devices and equipment (-31.7%) as well as electronic components (-22,0%).
Energy carriers were 15.1% more expensive in October this year than in October 2006. Thus, the price for crude oil increased by 24.4% and prices for mineral oil products were up by 22.3%. Hard coal was 11.8% more expensive thus contributing to the overall inflation in the energy sector. Solely natural gas was -8.2% less expensive and thus somewhat curbed overall inflation. The import price index without taking into account oil and mineral oil products was 0.1% lower in October than one year ago.
As compared to September 2007 prices increased particularly significantly for energy (+3.8%). While monthly inflation for mineral oil products and crude oil became weaker with +3.5% and +2.8% respectively, inflation in prices for hard coal continued rising (+ 5.8%). With regard to imported natural gas, this was more expensive in October 2007 as compared to September this year (+5.5%).